
EU says U.S. must honour a trade deal after court blocks Trump tariffs
BNN Bloomberg
The European Union’s executive arm requested 'full clarity' from the United States and asked its trade partner to fulfill its commitments after the U.S. Supreme Court struck down some of U.S. President Donald Trump’s most sweeping tariffs.
Trump has lashed out at the court decision and said on Saturday that he wants a global tariff of 15 per cent, up from 10 per cent he had announced a day earlier.
The European Commission said the current situation is not conducive to delivering “fair, balanced, and mutually beneficial” trans-Atlantic trade and investment, as agreed to by both sides and spelled out in the EU-U.S. Joint Statement of August 2025.
American and EU officials sealed a trade deal last year that imposes a 15 per cent import tax on 70 per cent of European goods exported to the United States. The European Commission handles trade for the 27 EU member countries.
A top EU lawmaker said on Sunday he will propose to the European Parliament negotiating team to put the ratifying process of the deal on pause.
“Pure tariff chaos on the part of the U.S. administration,” Bernd Lange, the chair of Parliament’s international trade committee, wrote on social media. “No one can make sense of it anymore — only open questions and growing uncertainty for the EU and other U.S. trading partners.”

Oil prices rise and stocks fall as war with Iran still advances despite Trump’s talk of negotiations
U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.

U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.











